None of the European countries takes loans at such rates, saidex-minister of economics Viktor Suslov in an interview.
TSN reports that the expert stated that "the situation withnational debt as well as gross national debt is rather complicatedbecause these loans are taken at very high interest rates,currently over 9% annual".
Suslov reminded that until September 15 the government has tosubmit a proposed state budget 2013 for consideration by theparliament. He thinks that we need to decrease the budget deficitas much as possible, even try to cut it down to zero in order tostop building up the national debt. Though, the economist thinksthe debt will grow in relation to GDP since new loans will have tobe taken.
"They have to stop borrowing. All loans are taken at veryunfavroable conditions and at very high interest rates. That is whythey have to be limited", concluded Suslov.
As of the end of July the national debt of Ukraine constituted 46billion dollars.